Hyderabad: The State Government is planning to increase liquor prices, including beer, to boost its revenue. This decision comes after a recent drop in revenue collections due to various reasons. The government is now exploring different ways to increase state-owned tax revenues.
According to official sources, Chief Minister A Revanth Reddy has asked the State Excise and Prohibition Department to find ways to raise income from liquor sales. One of the proposals being considered is to raise the price of beer, which breweries have been requesting for a long time to increase their profit margins. Prices of premium whisky, beer, and wine are expected to rise by 10% to 15%. The prices of Indian Made Foreign Liquor (IMFL) will also go up soon.
Officials stated that the excise department aims to generate an additional Rs 500 crore in revenue from liquor sales each month this financial year. The government has already set a target of Rs 25,000 crore in revenue from liquor sales, and the extra income will help address financial challenges on a monthly basis.
This year, liquor sales during the Dussehra festival were strong, and the government is hopeful for similar high revenues during upcoming festivals like Diwali, Christmas, and New Year. The price hike is expected to bring in significant additional revenue, as demand for liquor is usually high in November and December. Currently, there are 2,260 licensed liquor shops and 1,171 bars and restaurants operating in the state.
